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July 4, 2016

~ This Week's News is Sponsored by Better Branches ~



General News  

* Pocatello Simplot CU Renews with ESP
* PSCU Launches New Card Management Services
* Mobilearth Launches ‘7-Minute` Mobile Lending App
* MemberSource CU Uses IMM`s eTransaction Automation Tech

Pocatello Simplot Credit Union has renewed their core processing service agreement with ESP (Enhanced Software Products) for another long term contract. In addition to running the FORZA core system, Pocatello Simplot CU will be deploying some new solutions that ESP has built such as Digital Documents and E-mail Receipts.

PSCU, in conjunction with Digital Insight, announced new credit card management capabilities that will enable members to access their credit card accounts alongside checking and savings accounts in online and mobile banking applications. Digital Insight`s and PSCU`s platforms integrate APIs, which allows credit card account and transaction data to flow seamlessly between the two platforms in real time.

Omni-channel, mobile banking provider Mobilearth has launched its mobile digital lending application that allows members to complete the application process in about seven minutes on their smart phone or tablet. Mobilearth`s automated mobile app features 'upsell' capabilities, instant credit check, ID scanning (driver`s license), auto decisioning, digital signatures, and more.

MemberSource Credit Union, a $210 million-asset credit union based in Houston, has transitioned to an eTransaction automation environment using IMM`s eTeller and eSignature solutions. IMM`s eSignatures were critical in helping to facilitate MemberSource`s recent transition from open-ended lending to closed-end lending.




Hardware News

Dell's Latitude 7370 ultrabook is a portable and versatile business-focused laptop that Dell touts as the world's smallest business-class laptop with a 13-inch display. The Latitude 7370 has a large number of configuration options, e.g., solid state drives are available with storage capacities of 128GB, 256GB and 512GB, and RAM options are 4GB, 8GB and 16GB. The laptop has no cooling vents at all because it uses Intel's 4.5W Thermal Design Power (TDP), which means the machine doesn't get very hot. For a small upcharge, you can get security features such as a fingerprint and smartcard reader.

Most servers that ship today are based on Intel chips, but IBM believes it has a more powerful alternative with its Power processors. IBM wants to mainly sell Power servers costing more than $6,000, while letting other server makers offer low-end systems. Additionally, OpenCompute, which started in 2011, provides open server designs that compete with Intel servers. Those servers are made by companies like Foxconn and Wistron and often supplied directly to large companies like Facebook and Google. 


Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)


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Software Updates

Oracle has launched a cloud-based debt collection suite dubbed Oracle Banking Collections. Oracle says that the solution provides for comprehensive collection activities across all loan products. The platform, which can be either cloud-based or on-premise, has three features:

1) it offers insights into a borrower`s entire relationship with the credit union

2) it delivers a single system of record for all collections activity, helping to support compliance with collections regulations including those set forth by the CFPB

3) self-help features that help the consumer to proactively determine a remediation plan for their account and avoid the collections process altogether

Researchers at Gartner are predicting that the cloud will be the dominate software deployment model by 2020. They attribute this to two factors: 1) end users gaining comfort with using cloud services and 2) vendors shifting to primarily offering software from the cloud. Gartner predicts that by 2019 that 30% of the 100 largest software vendors will have adopted a cloud-only model. The research firm concludes that "more leading-edge IT capabilities will be available only in the cloud, forcing reluctant organizations closer to cloud adoption.”


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People with disabilities such as autism, Asperger's Syndrome, ADHD, Down Syndrome, etc. can have difficulties with handling their banking needs, including using ATMs. In response, CIBC has partnered up with MagnusCards, to produce complimentary step-by-step visual guides that help people with these conditions to bank on their own. For example, the how-to app provides assistance with depositing a check and withdrawing cash from an ATM.

The U.S. Supreme Court agreed recently to hear an appeal from Visa and MasterCard seeking to dismiss a lawsuit accusing them of illegally coordinating with Bank of America, JPMorgan Chase, and Wells Fargo to fix ATM fees. The lawsuit accuses the card giants of imposing contract terms that prevent independent ATM operators from charging lower fees when consumers use debit cards that access less expensive processing networks.


ATMs/Kiosks Sponsored by
Heritage Industries

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CU Success Stories  


Here is a chance to learn about real life credit union success stories from various technology vendors through the words of their clients. This week's vendor is:  

Enhanced Software Products (ESP)


and their client is:

Connections Credit Union

Credit Unions - if you have a vendor that you are happy with then please This email address is being protected from spambots. You need JavaScript enabled to view it.!

Vendors - if you have a credit union that is happy with your solutions then please This email address is being protected from spambots. You need JavaScript enabled to view it. and we will give you a $100 discount on your Case Study!


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Wireless World

According to Javelin Strategy & Research, more than half of consumers that they have surveyed would prefer to use a mobile wallet provided by their financial institution. That is why Visa has developed their Digital Commerce App and dozens of FIs have used it to develop apps. The platform allows participating FIs to offer contactless payments, security alerts, card controls and account balance information. The card giant contends that by building their own mobile payment apps, credit unions can oversee enrollment, marketing and branding. Visa's service uses host card emulation, which enables contactless payments without requiring access to a device's secure element, and it employs Visa's token service.

Some security experts believe that SMS text messages are weak form of multi-authentication because determined hackers can sometimes hijack the SMS messages meant to keep you safe. They point out that scammers can contact your mobile provider and using social engineering techniques convince the company to redirect your text messages to a different SIM card, thereby intercepting your one-time login codes. These so-called “SIM swap” attacks are so popular that New York State even issued an official warning about them. More secure alternatives to SMS include tools like Google Authenticator or an RSA token that proves possession by generating a unique code that matches one generated on a web service`s server.


Wireless World Sponsored by
Member Access Pacific (MAP)



The MAP App™ is the first network-branded prepaid card exclusively serving credit unions to offer mobile banking -
contact us now to learn more about this market-leading innovation for credit unions:

(866) 598 - 0698

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Security Section

Distributed denial of service attacks (DDoS) have advanced from simply disrupting their victims` operations to becoming a much greater threat than the risk of an outage. Case in point: Information breaches and the planting of malware are being hidden by a new attack vector called Dark DDoS. In action, attackers attempt to overwhelm security and logging tiers with smaller, repetitive DDoS attacks. Low volume DDoS attacks can create vast amounts of syslog events, and this is used to flood logging tools in the hopes of hiding other activities from distracted IT staffs.

The EMC Global Data Protection Index 2016 report surveyed IT decision makers at 2,200 organizations and found that organizations are tackling traditional cybersecurity issues better, but they are failing to address emerging threats. Especially concerning for many respondents was how to protect their cloud data against corruption or deletion. When asked about the causes of data loss and system downtime, those surveyed responded:

  • Hardware failure - 45%
  • Power failure - 35%
  • Software failure - 34%
  • Data corruption - 24%

Finally, almost three quarters weren't confident their backup and restore tools could keep pace with the faster speeds of flash storage.


Security Section Sponsored by
StrongAuth, Inc.



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Leaders Roundtable

Online and Mobile Banking:

Digital Differentiation Strategies


Arizona Federal Credit Union - https://www.arizonafederal.org
Read Eric Givens' comments:



IMM - http://www.immonline.com  
Read John A. Levy's comments:


Javelin Strategy & Research - http://www.javelinstrategy.com
Read Mark Schwanhausser's comments:


PSCU - http://www.pscu.com
Read Jeremiah Lotz's comments:


RLR Management Consulting - https://rlrmgmt.com
Read Mitch Razook's comments:


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Technology and Marketing

We recently covered The International ATM Marketing Forum of the ATM Industry Association's list of "don'ts" to help you optimize your email design and delivery for maximum effectiveness. On the flip side, here is a list of their recommended Do's:

- use white space to break up the page and emphasize key messages and content

- use A/B splits to test changes to the email design or subject line, testing only one element at a time

- use a responsive template because about 50 percent of emails are now read on mobile devices

- design with tables because many email programs can't read the latest design code

- stick to single-column designs whenever possible in order to optimize appearance across desktop and mobile platforms

- keep email widths under 650 pixels because the Outlook preview pane can only properly display emails up to 650 pixels

- add social media buttons to encourage message-sharing beyond your current network


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Online Banking/E-Commerce/Website Design

Consulting firm Accenture surveyed more than 4,000 consumers and found that 46% would be happy to accept computer-generated advice and services, independent of a human advisor. One of the report's authors stated that "it is well-known that robo-advice is gaining significant traction in the wealth management industry; however, our research shows this trend is also picking up in retail banking." The most popular subjects where robo-advice would be welcome were:

- determining how to allocate investments (79%)

- which type of bank account to open (74%)

- retirement planning (69%).

Kasisto, an AI (artificial intelligence) company, announced KAI Banking on Messaging for FIs looking to bring "conversational banking to the hundreds of millions of people on Facebook Messenger, Slack, SMS and other messaging services." The solution enables credit unions to power smart bots so that members can bank conversationally from their preferred messaging app. The company says that FI-branded smart bots can fulfill banking queries, transact, predict needs, and guide people through banking experiences.


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Internet Access

Juniper Networks announced its cloud-enabled branch strategy which is built on two platforms. The NFX Series, which has a throughput of capacity of 20Gbps, includes a router, network switch and server, and is targeted towards larger branches. On the WAN side, Juniper supports software-defined WAN (SD-WAN) services where different cloud services or enterprise applications can be delivered over different WAN connections. Meanwhile their smaller SRX-Series is designed for smaller branches where 10Gbps is adequate.

Norton announced the global launch of Norton Wi-Fi Privacy which is designed to help you stay safe on public Wi-Fi networks. The subscription-based app encrypts all the data you send over a public Wi-Fi network, from social media logins to mobile banking details. Essentially, this security app is a VPN for mobile devices and supports both Apple and Android devices.


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Call Centers

Some contact centers set up multi-tiered incentive programs for their agents in an attempt to motivate employees to stay loyal in the face of a perceived job "ceiling." Naturally, each tier represents a pay increase, but also must include consistently meeting KPIs (Key Performance Indicators) to ensure the agent continues to earn their position. Some programs factor in items such as employee tenure, added responsibility, and external training.